Moody's gives Nestle Hungaria bonds Aa3

Moody's Investors Service said it assigned an Aa3 backed senior unsecured rating to the inaugural up to HUF 115 billion of bonds to be sold by Nestle Hungaria Kft., a fully owned subsidiary of Nestle SA. The bonds have a seven-year tenor with bullet maturity and pay a fixed-rate coupon of 1.75%, paid annually.

The Aa3 rating given to the bonds reflects the guarantee of Nestle, which is rated Aa3 with a stable outlook, Moody’s said.

Proceeds will be used for general corporate purposes.

The outlook is stable.

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